Who Is Eligible For Funding:

The Foundation (VEIF) will consider applications for funding from individuals, groups and institutions.  The trustees will not consider providing funds in support of research in pursuit of a first degree.

The Foundation is willing to consider co-funding projects and support larger research projects with other organisations whether they are; tertiary education institutions, professional bodies, private sector organisations and other charities.

The VEIF accepts applications from:

•  Students, post graduate and above (led by an academic)

• Academics (individuals and groups)

• Practitioners

• Institutes

• Businesses

• Private Citizens

What Areas of Research:

The Foundation supports research and education within New Zealand that will:

• Inform both the public and valuers on important issues regarding valuation and land economy.

• Promote the acquisition and communication of knowledge in relation to the valuing of land; and

• Advance education, training and the practice in valuation and land economy for the public benefit and valuers.

The VEIF may set specific priorities in terms of subject areas for topics to be supported from time to time.  The research should reflect the strategy set out by the Deed of Charitable Trust.

The VEIF supports research that has an immediate practical application upon completion of your project.

Funding and Limitations:

The amount of funding which the VEIF might allocate to a successful project is at the absolute discretion of the Foundation where full funding is approved or 50% of the costs of a project where the Foundation is a Joint Venture partner (amount to be determined by VEIF).

Eligible and Acceptable Costs:

The VEIF will generally only support the direct net costs of research.  This may include necessary travel and subsistence expenditure.  Applicants should ensure that estimates of expenditure are as accurate and realistic as possible.  Funding of travel costs will only be for the lesser cost where options are available.

Research Grant Applications:

The application is in two parts.

• Part A allows applicants to first submit their proposals in outline.

In Part A, applicants should state simply, what they propose to do, why it should be done and how the results will contribute to the wider knowledge of the valuation/property community and for the benefit of the public and if applicable at this stage, a budget and timing estimate.

Where an application is made under Part A, the Foundation will after consideration advise the applicant if it would like the applicant to proceed to a Part B application.

• Part B (including Part A) requires the detail of the proposal.

In Part B, the detailed application should set out all the proposals for the application to be assessed. The applicants should make clear the hypothesis or issues to be addressed and their significance, budget and timing.

Applicants should; describe their proposed approach to the research question, demonstrate that they have identified the most effective way of carrying out the work and demonstrate their capability of carrying out the research project. The VEIF will also be looking for details of the applicant’s knowledge, experience and expertise.

In both Parts A & B applicants should explain how the proposed research has practical applications to address the issue being considered.

The VEIF is a registered charity and the trustees will fund only those projects that are demonstrably practical and in the public interest.

Conditions of the Award:

Successful applicants will be sent a letter with the research agreement setting out the terms and conditions.  The research agreement must be signed by the applicant and returned by email with a work plan showing the agreed milestone activities and dates.

All projects must commence within three months of the awarding of funds and the research must be completed within the agreed time period.  If there are extenuating circumstances why the research project cannot be completed this should be agreed with the VEIF at the earliest opportunity.

Administration of the Research:

The Foundation shall appoint a project manager at the Foundation’s cost.

Unless by agreement, the grant will be paid in three stages:

• 30% on commencement

• 25% on submission of an approved advanced draft of the report

• 45% on delivery of the approved final report.

In the research agreement with the applicant, there will be a requirement for progress reports.

Reporting:

An advanced draft research report shall be received by the Foundation not less than five weeks prior to the completion date.

A final draft of the report not exceeding 15,000 words shall be sent to the Foundation no later than the completion date.

Upon receipt this draft will undergo a rigorous editorial process and the Foundation at its cost may style the report to its requirements [1].

Research Ownership Options:

Unless specifically agreed prior to commencing the Research – any research undertaken with the assistance of VEIF funding becomes the joint property of the VEIF and the Author on a split commensurate with the amount of funding provided (up to a maximum of 50% ownership by the VEIF). Under certain conditions the Foundation may be prepared to waive the condition of joint ownership provided the Foundation’s rights to its usage are protected.

Joint ownership is not expected to prevent for example, publication of an academic paper in a professional property magazine.

 In all circumstances – any research funded by the VEIF will:

• Carry an acknowledgement that the VEIF contributed to funding

• Be made publicly available via the VEIF website (the information can be embargoed for a period of up to 6 months if required by other publishers/funding organisations)

• Be made available for use by other researchers for extension research under the terms of the OECD Principles and Guidelines for Access to Research Data from Public Funding (unless there are agreed commercial reasons for not doing so).

Help with this Application

The trustees are available for help with any queries and help with completing any part of this application.

[1] These are generally VEIF style changes, including front cover, inside page and rear pages incorporating disclaimer and ‘About VEIF’ paragraphs (refer existing reports on the website).